TERM PAPER TOPICS IN MACROECONOMIC PRINCIPLES Conditions and Regulations This term paper will be…

TERM PAPER TOPICS IN MACROECONOMIC PRINCIPLES Conditions and Regulations This term paper will be…

TERM PAPER TOPICS IN MACROECONOMIC PRINCIPLES
Conditions and Regulations
This term paper will be handed in on the date stipulated by the instructor.
The paper will be no longer than four pages of double-spaced typing. Brevity and
conciseness are important. Sentences and paragraphs should be used but when
brevity is called for bullets can be used to convey meaning.
Quotations should be referenced but otherwise a set of general references will be
sufficient.
Once you have chosen your topic use the sections A), B) …as a means of segmenting
your comments. Alternatively, if you wish to construct your own narrative, simply
reference the sections (A) etc. as you address the respective topics.
Choose to answer one of the following questions:
1) “The idea that a country’s economic fortunes are largely determined by its
success on world markets is a hypothesis, not a necessary truth; and as a
practical, empirical matter, that hypothesis is flatly wrong. That is, it is simply
not the cases that the world’s leading nations are to any important degree in
economic competition with each other, or that any of their major economic
problems can be attributed to failures to compete on world markets.”
Paul Krugman, “Competiveness: A dangerous obsession”, Foreign Affairs
(March/April 1994): 28-44.
Question
A) Explain why international trade is not a zero sum game.
B) Explain why defining competiveness of a nation is much more problematical
than defining that of a corporation.
C) Explain whether you agree that competiveness is a meaningless concept when
applied to national economies and whether or not you agree that the
obsession with competiveness is wrong and dangerous.
Or
QUESTION 2
Financial markets over the last forty years have expanded enormously:
Currency markets rose from $4 trillion in the 70s to more than $500 trillion now.
Turnover in equity markets increased sevenfold between 1993 and 2005 to
around $51 trillion. The implications of expanding financial markets are
controversial. With no fixed exchange rate mechanism between currencies the
relative values of currencies tend to be determined by short-term currency
movements which move largely according to differences in interest rates.
Smaller countries have found difficulty in implementing monetary policy and
charge that short-term currency “speculation” performs no useful social value.
Questions:
A) Outline the pros and the cons of free, unregulated flows of capital.
B) Outline the pros and cons and the practicality of imposing a financial
transaction tax (“The Tobin Tax).
Or
QUESTION 3
“The only alternative to increased immigration are mounting debts or reduced
social services- a practical system of work-based immigration for both high-
skilled and low-skilled immigrants-a system that will include a path to
citizenship-will help us meet workforce needs, prevent exportation of jobs to
foreign countries and protect against the exploitation of workers.”
“The best way to prevent illegal immigration is to make sure that we have a fair
and workable system of legal immigration. The current immigration system is
neither.”
Jeb Bush and Clint Bolick, “Solving the Immigration Puzzle,” Wall Street
Journal, January 24, 2013.
“If the message to American students is “Do not bother working hard for a high
–service degree, because we can import someone to do the job for less” we could
do significant long-term damage to the high tech educational system we value so
dearly.” Ross Eisenbrey, “America’s Genius Glut,” New York Times, February 7,
2013.
Question:
A) Is the “immigration issue” one of demographics? Evaluate the chances of a
“comprehensive immigration policy” turning away from racial and ethnic quota
towards “opportunities not burdens.”
B) Why is the system of legal immigration not working?
C) Evaluate the net social and economic benefits accruing to the United States of
facilitating the importation of skilled workers.
Or
QUESTION 4
Jeffrey Sachs coined the expression “shock therapy” to describe the sudden
release of price and currency controls, withdrawal of state subsidies, and
immediate trade liberalization within a country, and usually including large-
scale privatization of previously public-owned assets.
Question:
A) Outline what you understand by shock therapy and describe its genesis.
B) Compare the shock therapy applied to Poland with that applied to Russia.
C) Describe and explain the respective economic performances of the two
economies (Russia and Poland) since their shock treatment.
Or
QUESTION 5
Naomi Klein describes the “shock doctrine” as using the public’s
disorientation following massive collective shocks-wars, terrorist attacks, or
natural disasters, to achieve control by imposing economic shock therapy when
the first two shocks do not succeed in wiping out resistance, a third shock is
employed: the electrode in the prison cell or the gun on the street.
Question:
A) Evaluate the claim that America’s “free market” policies have come to
dominate the world through the exploitation of disaster-shocked people and
countries.
B) Evaluate the suggestion that Venezuela’s turn to socialism was a reaction to
the “exploitation of disaster-shocked people and countries.”
Or
QUESTION 6
There are two visions: One which see yourself as a passive person, happiest
giving up control of your life to corporate and governmental “experts”, who
promise to care for you with benefit packages and guaranteed levels of
consumption goods or do you see yourself as one who ideally would prefer to
exercise judgement over your life’s course to the maximum extent possible in
the full realization that you should expect to accept the risks that accompany
this independence?
Question:
A) Outline these two visions and comment on your preferred vision.
B) Describe how you would categorize into one or other of the two visions of the
majority of your fellow citizens.
C) Outline the likely limitations that would arise from fully realizing either of
these alternatives.
D) Discuss the likelihood of both these visions being able to co-exist in the
existing legal framework.
Or
QUESTION 7
“The new realities are that trade is substantially free, the genie of financial
globalization has escaped the bottle and the US is no longer the world’s dominant
economic superpower. The pursuit of hyper-globalization is a fool’s errand and we
must reorient our priorities accordingly.” Dani Rodrick, (2011) The Globalization
Paradox, Democracy and the Future of the World Economy, W.W.Norton.
A) What is the political trilemma of globalization?
B) Define the three elements and explain why they cannot all coexist together without
causing a governmental crisis of authority.
C) Why is the pursuit of hyper-globalization a fool’s errand?
Or
QUESTION 8
Venezuela: The Economic Crisis
Or
QUESTION 9
As jobs dry up because of the spread of artificial intelligence, some have suggested
giving everyone a paycheck which is enough to cover housing, food, health care and
other basic needs. This is known as “universal basic income” or U.B.I. The notion is
that machine intelligence will produce so much economic surplus that the economy
could afford to liberate much of humanity from both labor and suffering.
A) Discuss the issues arising from the disruption of technological change on the
perceptions of those in the work force.
B) Discuss the fiscal viability of divorcing basic needs from the need to work.
Or
QUESTION 10
Discuss the American-Cuban embargo: Its origins, intensions, and unintended
consequences.
Or,
QUESTION 11
Discuss the applicability of carbon taxes as a means of influencing the emission of
gases that could impair the climate adversely.

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